Over the last day or so I have been questioned by bloggers panicking about the Google PR reductions. In many cases Text Links were their only form of monetization and they want to know where to make money of their blog if the PR marketplace implodes completely.

First of all the market for text links has not gone. What will happen is a shift of approach, as you would expect. It might not be as out in the open as it once was but people will still buy and sell links until Google can fix their algorithm to detect them without human verification, you can count on that.

Yes, right now I am confident most paid links go undetected. While bloggers are in a flap, you can bet this is playing into Googles hands.

What can we do though to make money without selling text links?

For a low traffic blog with a decent PR selling links is a profitable way to make some dough. Are there other options to make money?

Ad sales – Look at products, companies, offers in your niche and approach for an ad deal. It is a numbers game, do not be discouraged if you get turned down, ask what would make the deal sweeter then move on to the next. Advertisers do not always want mega traffic, if your blog is highly focused that could be just as appealing. There is also feed advertising if you have a decent subscriber base. Optimize your ads to get the best profit you can and learn how to grow your traffic to get more opportunities.

Buy, Build and sell blogs – There will be quite a few people looking to offload their blogs now, buy up at firesale prices then make them profitable. Grow blogs, attract links, get some subscribers, then sell. Think of it like property developing in the real world.

Your own products and services – Write an ebook, video series, audio, or do freelancing and consultancy. Bloggers have an ideal source of material, their archives, flagship content and series.

Sell leads and products – Most people know you can get a commission by recommending products with affiliate networks, from Amazon to Commission Junction. For a smaller, more targeted blog though you might be better with leads. If you know a designer, programmer, writer, they might be willing to give you a percentage in return for any sales leads you can provide. The same goes for website sales brokers, and other non-digital industries such as realtors and lawyers. Most businesses are grateful of leads, it is just in the negotiation. Also look to the big affiliate sites, many have lead offers as well as traditional affiliate deals.

The key thing is to get looking now before your income drops off (if it does at all). See this shakeup as an opportunity to diversify, and you might find there are revenue sources you had never considered that make your blogs so much more profitable.

Any other ideas for monetization you have to share? Let us know in the comments …

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